Digital Asset CEO Blythe Masters Steps Down

Omar Faridi

Blythe Masters, a former JPMorgan Chase global commodities head and CEO of Digital Asset, a cryptoasset technology development firm, has decided to leave her current position at Digital Asset.

On Tuesday (December 18th) Digital Asset, a New York-based developer of “encrypted straight through processing tools” using distributed ledger technology (DLT), announced that Masters would be resigning from her role as CEO at the firm due to personal reasons. Digital Asset’s announcement further noted that AG Gangadhar, who joined the company’s board of directors earlier this year, would be serving as Digital Asset’s acting CEO.

Chairman Of Board Of Directors At Hyperledger Project

Masters’ resignation will likely be considered a setback for Digital Asset as she is well-known for her valuable contributions to the blockchain and crypto industry. She is presently the chairman of the board of directors at Hyperledger Project, a part of the larger Linux Foundation collaborative effort “created to advance blockchain technology.”

Masters is also a member of the group international advisory board and senior advisor on blockchain to the president of Banco Santander, one of the world’s largest financial institutions.

In March 2015, Masters joined Digital Asset and during her time with the firm, she played a key role in helping the blockchain startup establish strategic partnerships with banks throughout the world. She also worked to develop blockchain-based platforms for Australia’s Stock Exchange and large American clearinghouses.

Will Remain On Company's Board Of Directors

In July, Digital Asset announced its partnership with Google which involves implementing blockchain-enabled platforms for cloud computing. At present, it’s unclear how far these projects are in terms of their ongoing development. When questioned about why she has resigned, Masters said she was planning to spend more time with her family. However, the experienced financial professional added that she would continue to serve as an advisor and board member at Digital Asset.

In an official statement on her decision to step down as CEO, Masters remarked:

Digital Asset has evolved from an ambitious idea to a truly global software engineering firm. We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level.

She added:

Having come to know and trust AG as an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.

97% of South Korean Crypto Exchanges Reportedly Threatened by Bankruptcy

Oli Weiss

A recent survey carried out by Business Korea has discovered that South Korea’s once thriving crypto economy has taken a dramatic down-turn, with up to 97% of South Korean crypto exchanges threatened by bankruptcy.

According to the report produced by one of Korea’s most well-known business and finance journals, only five or six of the country’s crypto exchanges rank in the top 100 globally, and therefore many fail the generate the turnover or see comparable transaction volumes to the larger globally accessed exchanges.

The fact that so many exchanges are struggling is starting to have a negative effect on the crypto start-up scene in Korea, with new Korean crypto innovators increasingly seeking to list abroad.

Just a few years ago, Korea led the way with dynamic projects in both ICOs and blockchain-applications including Futurepia, which last year won 1st place in Switzerland’s prestigious ‘Blockchain Leadership Summit’.

Recently there have been several examples of South Korean crypto starts-up choosing to list of foreign exchanges, especially those based in Singapore. Earlier this year Korean developed BOScoin, for example, opted to list on Bitholic, which is based in Singapore.